Brokerages Set PulteGroup, Inc. (NYSE:PHM) Price Target at $142.21

PulteGroup, Inc. (NYSE:PHMGet Free Report) has received an average recommendation of “Moderate Buy” from the seventeen research firms that are covering the company, MarketBeat reports. Seven equities research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $143.1429.

Several research analysts have weighed in on the stock. Seaport Research Partners reissued a “sell” rating and issued a $100.00 price target (down from $155.00) on shares of PulteGroup in a report on Tuesday, April 7th. Zacks Research upgraded PulteGroup from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Weiss Ratings raised PulteGroup from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday. Truist Financial lowered their target price on PulteGroup from $170.00 to $150.00 and set a “buy” rating on the stock in a research note on Thursday, April 16th. Finally, Royal Bank Of Canada lifted their price target on PulteGroup from $115.00 to $116.00 and gave the stock a “sector perform” rating in a report on Thursday.

Read Our Latest Stock Report on PulteGroup

PulteGroup Price Performance

Shares of PHM opened at $128.85 on Thursday. The company’s 50-day moving average is $124.12 and its 200-day moving average is $125.25. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.78 and a quick ratio of 0.94. The firm has a market capitalization of $24.15 billion, a PE ratio of 13.16, a PEG ratio of 1.63 and a beta of 1.18. PulteGroup has a fifty-two week low of $108.49 and a fifty-two week high of $144.49.

PulteGroup (NYSE:PHMGet Free Report) last announced its earnings results on Wednesday, July 22nd. The construction company reported $2.48 EPS for the quarter, topping the consensus estimate of $2.36 by $0.12. PulteGroup had a net margin of 11.62% and a return on equity of 15.21%. The business had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $3.94 billion. During the same quarter in the previous year, the firm posted $3.03 EPS. PulteGroup’s revenue was down 9.6% compared to the same quarter last year. Equities analysts forecast that PulteGroup will post 10.08 EPS for the current year.

PulteGroup declared that its board has authorized a stock repurchase program on Thursday, April 23rd that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the construction company to reacquire up to 6.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

PulteGroup Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Tuesday, June 16th were given a dividend of $0.26 per share. The ex-dividend date was Tuesday, June 16th. This represents a $1.04 annualized dividend and a yield of 0.8%. PulteGroup’s dividend payout ratio (DPR) is presently 10.62%.

Key Headlines Impacting PulteGroup

Here are the key news stories impacting PulteGroup this week:

Insiders Place Their Bets

In related news, Director Lila Snyder sold 3,339 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $117.18, for a total value of $391,264.02. Following the transaction, the director directly owned 3,540 shares in the company, valued at approximately $414,817.20. This represents a 48.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Matthew William Koart sold 7,457 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $120.00, for a total transaction of $894,840.00. Following the transaction, the chief operating officer directly owned 28,100 shares in the company, valued at approximately $3,372,000. This represents a 20.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.75% of the stock is currently owned by company insiders.

Institutional Trading of PulteGroup

Institutional investors have recently bought and sold shares of the business. Golden State Wealth Management LLC raised its position in shares of PulteGroup by 18.3% in the fourth quarter. Golden State Wealth Management LLC now owns 484 shares of the construction company’s stock valued at $57,000 after buying an additional 75 shares in the last quarter. Evergreen Capital Management LLC boosted its stake in shares of PulteGroup by 2.8% in the second quarter. Evergreen Capital Management LLC now owns 2,875 shares of the construction company’s stock valued at $304,000 after buying an additional 78 shares during the period. CoreCap Advisors LLC grew its position in PulteGroup by 1.1% during the second quarter. CoreCap Advisors LLC now owns 7,372 shares of the construction company’s stock worth $1,012,000 after buying an additional 79 shares in the last quarter. Stephens Inc. AR grew its position in PulteGroup by 3.5% during the fourth quarter. Stephens Inc. AR now owns 2,350 shares of the construction company’s stock worth $276,000 after buying an additional 80 shares in the last quarter. Finally, Perigon Wealth Management LLC increased its stake in PulteGroup by 3.6% during the 4th quarter. Perigon Wealth Management LLC now owns 2,672 shares of the construction company’s stock worth $313,000 after acquiring an additional 92 shares during the period. Institutional investors own 89.90% of the company’s stock.

About PulteGroup

(Get Free Report)

PulteGroup, Inc (NYSE: PHM) is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.

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Analyst Recommendations for PulteGroup (NYSE:PHM)

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